Starbucks (NASDAQ:SBUX) Stock Price Down 0.7%

Starbucks Co. (NASDAQ:SBUX) shares traded down 0.7% on Thursday . The stock traded as low as $76.07 and last traded at $76.26. 4,906,747 shares changed hands during trading, a decline of 53% from the average session volume of 10,392,467 shares. The stock had previously closed at $76.83.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SBUX. William Blair lowered shares of Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Bank of America increased their price target on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Jefferies Financial Group lowered their price target on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1st. Guggenheim lowered their price target on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Finally, BTIG Research lowered their price target on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $94.54.

Starbucks Stock Down 0.7 %

The company has a market cap of $86.38 billion, a PE ratio of 21.01, a P/E/G ratio of 1.68 and a beta of 0.94. The stock’s 50 day simple moving average is $78.97 and its two-hundred day simple moving average is $87.58.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. During the same period in the prior year, the business posted $0.74 EPS. The business’s revenue was down 1.8% on a year-over-year basis. Analysts forecast that Starbucks Co. will post 3.58 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio is presently 62.81%.

Insider Activity

In other news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,750 shares of company stock valued at $878,893. Company insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after purchasing an additional 470,498 shares during the last quarter. Norges Bank bought a new stake in shares of Starbucks in the 4th quarter worth about $1,240,652,000. Fisher Asset Management LLC increased its position in shares of Starbucks by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock worth $1,091,378,000 after purchasing an additional 268,030 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Starbucks by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock worth $948,093,000 after purchasing an additional 27,496 shares during the last quarter. Finally, Flossbach Von Storch AG increased its position in shares of Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after purchasing an additional 2,897,282 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.